Wednesday, December 12, 2007
UNDERCOVER FBI AGENT PRETENDING TO BE HEDGE FUND MANAGER UNCOVERS SECURITIES FRAUD
An FBI sting operation recently uncovered five separate kickback schemes. A "kickback" is a payment back of a portion of the purchase price to the buyer. The seller pays the kickback to the buyer in order (1) to induce the purchase or (2) to improperly influence future purchases.
